TRON 3 sequel likely to be named TRON: Ares and star Jared Leto

I'm late in covering this, but just in case you haven't already heard . . . it looks like a TRON 3 sequel might finally be "in development" now. Though the news could be bittersweet for many fans. Garth Davis has been named director of TRON: Ares, starring Jared Leto.
https://deadline.com/2020/08/garth-davis-tron-sequel-director-jared-leto-movie-1202992103/
https://collider.com/tron-3-title-tron-ares/
This news is personally a bit frustrating and disappointing, because the pendulum between TRON 3 being a direct sequel to TRON Legacy called TRON: Ascension and a spin-off named TRON: Ares has swung back and forth multiple times.
As recently as TheDisInsider article (that kicked off the initial rumor frenzy), it was stating that TRON 3 was "expected to be more of Tron sequel rather than a reboot, and the cast from Tron: Legacy could return". But it's not sounding all that likely at this point.
It sounds like the fact that Garth Davis "aggressively pursued the job, eventually winning over execs" and no doubt bringing his vision for what the next TRON film should be along with him is why the TRON: Ares pitch won out.
I also pretty much guessed that Joseph Kosinski likely wouldn't be returning to direct, because he's busy with other projects right now. So unless Disney was willing to wait, they'd hire someone else to direct another TRON sequel. Which is what they did.
Another reason why the TRON: Ares spin-off pitch starring Leto may have won out, could be for cost reasons. If there's only one main star in the picture, without the Legacy cast returning, it would reduce the budget. Disney's financials are currently not in the best of shape, and construction on the TRON roller coaster at the Magic Kingdom in Florida has been temporarily halted.
There's at least still a possibility of Daft Punk returning, to do the TRON: Ares soundtrack. As per the Mitchell Leib podcast interview (starting at the 27:24 mark). But, then again, he also said Disney wanted Kosinski back. And that's not happening. So . . . yeah. 😕

And another rationale for thinking the TRON Legacy cast may not be returning for TRON: Ares . . . it's already rumored additional casting has begun, and Disney is interested in adding Mulan's Liu Yifei. Yet still no word on TRON Legacy actors.
https://fullcirclecinema.com/2020/08/10/tron-sequel-liu-yifei-lead-role/
Thanks to Employee_427 on Twitter and LDSO team member YCP on Facebook for being the first ones to alert me to the TRON: Ares news.
January 19, 2023 UPDATE: After hearing little about TRON: Ares during the past three years, there is news that previously announced director Garth Davis is apparently no longer involved in the project and potentially being replaced by Joachim Rønning, probably best known for directing Pirates of the Caribbean: Dead Men Tell No Tales and Maleficent: Mistress of Evil.

Meanwhile, Jared Leto is still set to star as the character Ares, the lead villain, after which the title of the sequel is named.
TRON: Ares also continues being referred to as a "sequel", and according to an article on Deadline it's rumored to begin filming August 2023 in Vancouver, Canada.
https://deadline.com/2023/01/tron-ares-joachim-ronning-helm-jared-leto-disney-sci-fi-sequel-1235227464/
Thanks to GentlemnCckroach on Twitter for alerting me to this update!
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